PES Finance Ministers call for measures to reduce inequality

11/07/2017

Stanishev, Cretu, Lambertz at conference

Finance ministers from the PES family today discussed measures for bridging social and economic inequalities and strengthening convergence in the EU.

Finance ministers from the PES family today discussed measures for bridging social and economic inequalities and strengthening convergence in the EU. They also highlighted the need for a swift implementation of a European deposit guarantee.

Pier Carlo Padoan, Italian Finance Minister and chair of the PES ECOFIN Ministers’ Network, commented after the meeting: ‘The Commission reflection paper offers a good basis for discussion on the future of the EMU. Many elements that we have been discussing in our network are taken into consideration such as: bridging social and economic inequalities, promoting investment strategies and social and economic convergence. We also welcome the reference to completing the Banking Union with a guarantee for deposits, a backstop in case of bank resolution, and measures for promoting financial stability and solvency by cleaning bank balance sheets. We look forward to further discussing the creation of a Eurozone Budget – an issue that our political family has called for since the start of the debate on the EMU.’

The meeting was also attended by:

  • Jeroen Dijsselbloem, Finance Minister, The Netherlands
  • Ricardo Mourinho Félix, State Secretary at the Ministry of Finance, Portugal
  • Ionut Misa, Finance Minister, Romania
  • Karolina Ekholm, State Secretary at the Ministry of Finance, Sweden
  • Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs
  • Maria Joao Rodrigues, Vice President of the S&D Group in the European Parliament
  • Udo Bullmann, Vice President of the S&D Group in the European Parliament
  • Roberto Gualtieri, Chair of the ECON Committee in the European Parliament
  • Pervenche Beres, S&D Coordinator for the ECON Committee in the European Parliament
  • Yonnec Polet, Deputy Secretary General, PES